Loyalty programs have long been a go-to for businesses to provide an extra value point or retain customers, but overall, it’s been a way to generate more sales revenue.

What are some examples of Loyalty Programs that work well? Here is what you might familiar with but may not have thought in terms of a Loyalty Program:

Supermarkets – Consider Kroger, the third-largest private employer here in the US. They have a Kroger Plus Shopper’s Card, which works like this; you go to their supermarket, you spend money, swipe the Shopper’s Card at the cash register, and earn points, which can then be redeemed for fuel discounts at their onsite fuel stations. 

Airline Travel – Delta Air Lines has a SkyMiles program that offers points (or “miles”) to passengers traveling on most fare types, which accumulate towards free rewards such as airline tickets, business, and first-class upgrades, and luxury products.

Credit Cards – Many credit cards offer cash back rewards based on how much you spend (tiers). In contrast, others, such as the aforementioned Delta Air Lines, use them for various rewards for company-specific perks.

Loyalty Programs, Referral Programs, and Membership Programs can be implemented in so many different ways; coupons, discount codes, membership cards to earn discounts, et cetera. It means that Loyalty programs can have the ultimate magic factor and won’t be disappearing anytime soon! 

The philosophy and driving force behind loyalty programs are pretty simple:  

Repeat customers receive rewards, and businesses witness an increase in sales.

New customers are referred to; there’s a valued add-on advantage and direct others while becoming repeat customers themselves. It’s a wonderful revenue-producing cycle once you get it started!

Here’s an interesting bit of trivia: statistically, a repeat customer spends 67 percent more on a given purchase than a new customer does!

Therefore, knowing this, wouldn’t it make sense that they should be rewarded for their continual purchases?

Loyalty programs are an easy way for businesses to thank their customers and, in turn, are a motivator for customers to become brand ambassadors – someone loyal to the brand, who stands behind the products and will share their experiences with their friends and family. 

Creating Brand Ambassadors does not only increase sales from new leads, but it can save money for businesses. It can take many resources to attract new customers, and it has always been a challenging proposition. Consider that it costs the average business 6-7 times more to acquire a new customer than retaining a current one.

Having a Loyalty Program helps attract new customers in referrals. One of the benefits lies when new leads make their way through the “sales journey”. With this, they can easily generate new leads.

Finally, Loyalty Programs do not have to cost a fortune. An excellent customer-loyalty program is an easy way for businesses to show their side and remain competitive. With the growth of e-commerce, there is no need for printing since brands can design customer loyalty programs for online customers.

What role NextBee plays to keep brands to stay ahead of the competition?

NextBee offers a successful loyalty program software that can practically guarantee brands an increase in sales. With its overwhelming features, brands can enjoy benefits which hardly any other platform is offering such as:

• Gamification grows customers’ curiosity to encourage them to participate in-game elements like tiers, badges,  perks, etc. With gamification, brands can add a sense of friendlier competition to boost participation
• Creating promotional campaigns can immensely boost engagement and increases repeat-purchase rates
• Reporting and data analytics features act as a savior because brands will know which customers are putting in the most effort. Accordingly, they will know how new things should introduce to fetch their attention to take active participation in the loyalty program

Would you like to learn more? We can schedule a one-to-one free demonstration of the platform. Alternatively, you can join one of the webinars on how to implement the Loyalty Program solution.

NextBee is the platform of choice for its ability to track loyalty metrics for both – sales and advocacy, reward option integration into shopping carts and subscriptions, personalized offers for the program members, and 24×7 available support. 

NextBee enables you to build an army of loyal customers who are as excited about your brand as you are!